Grand Slam Track, the organization led by renowned sprinter Michael Johnson that promised substantial prize money for top runners, has declared bankruptcy after canceling its final event and failing to compensate athletes and vendors. Initially boasting a $30 million bankroll, the league’s Chapter 11 filing revealed it had less than $50,000 in cash, between 200 and 999 creditors, and debts ranging between $10 million and $50 million.
This development signifies a significant downfall for the league, which had secured agreements with prominent athletes such as world champions Sydney McLaughlin-Levrone, Anna Hall, and Melissa Jefferson-Wooden, aiming to revolutionize the sport and maintain its presence on television and in the media during non-Olympic years. Reports indicate that several top athletes are still owed substantial sums, while vendors mostly rejected the league’s proposal to accept 50% of their outstanding payments, leading to the bankruptcy filing.
In a statement addressing the bankruptcy, Johnson expressed determination, stating, “I remain committed to the vision of Grand Slam Track and the collective future we are striving to create.” The league’s challenges became evident in June when it called off its Los Angeles meet, the final event of its inaugural season with four scheduled competitions.
The league’s announcement highlighted that the reorganization process aims to pave the way for future seasons and new initiatives, such as expanding participatory events, improving media offerings, and fostering stronger bonds with the global running community.